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BitMEX exchange hits $1 trillion in Bitcoin trading volume following Bitcoin's parabolic advance

The parabolic advance that started on April 2, caused a lot of FOMO, pushing the price as high as $13,800; the rally ended on June 26, and it has been a slow day ever since.


BitMEX, one of the most famous leverage trading exchanges, known for its Bitcoin perpetual contract, surged with traders trying to profit from the rally. Subsequently, the rally blindsided a lot of traders causing massive liquidations of shorts.


Surge or not, the total trading volume of Bitcoin on BitMEX reached whopping levels, as compared to the start of 2019, when total trading volume over 24 hours was hovering just below $1 billion, and during some days it even reached the $1 billion mark.


As of today, the total trading volume of BitMEX, as seen on CoinMarketCap, was over $5 billion and it is more than 18% of the total trading volume of Bitcoin which stands tall at $27 billion. BitMEX is also the top contributor to Bitcoin trading volume. Read More at AMBCrypto...

#BitMEX #Trading